Intertek Group PLC Acquisition (0660X)
17 Diciembre 2019 - 01:00AM
UK Regulatory
TIDMITRK
RNS Number : 0660X
Intertek Group PLC
17 December 2019
INTERTEK ENTERS HIGH-GROWTH TRAVEL & TOURISM INDUSTRY WITH ACQUISITION
OF LEADING HOSPITALITY ASSURANCE BUSINESS
17 DECEMBER 2019
-- Travel and tourism sector contributed $8.8 trillion to the
global economy in 2018 and outpaced the growth rate of world
GDP
-- The market for systemic Quality Assurance services within the
global travel and tourism industry will continue to grow rapidly
driven by consumer and regulatory pressures
-- Building on its leadership position, CSF will now benefit
from Intertek's global network and broad customer base,
facilitating expansion into other geographies and adjacent
sectors
More information is available here:
https://www.intertek.com/investors/csf-video/
Intertek Group plc ("Intertek"), a Total Quality Assurance
provider to industries worldwide, is pleased to announce that it
has acquired Check Safety First ("CSF"), a market leading global
health, safety, quality and security risk management business
focused on the travel, tourism and hospitality sectors.
With the travel and tourism sector contributing $8.8 trillion to
the global economy* and outpacing the growth rate of world GDP,
consumer awareness and concerns in relation to health, hygiene,
safety and security when travelling have also increased
significantly. The potential reputational damage for hotels caused
by poor food safety and security standards, combined with greater
regulation and compliance requirements imposed by governments in
tourist destinations, has seen more importance placed upon the need
for bespoke, innovative outsourced Quality Assurance solutions.
Founded in 2003 in the UK, CSF is a trusted partner to major
hotels and tour operators around the world providing a unique range
of assurance solutions to the industry. Through its Cristal and
Checkpoint branded audit and software solutions, CSF enables
hoteliers, restauranteurs and tour operators to meet the highest
industry-specific health & safety and security standards. CSF
has 145 auditors across 24 countries and is expected to generate
revenues of c. GBP10 million in 2019.
Building on its leadership position in tourist destinations
across the Middle East, North Africa, Caribbean and Spain, CSF will
now benefit from Intertek's global network and broad customer base,
facilitating expansion into other geographies and adjacent
sectors.
André Lacroix, Chief Executive Officer of Intertek, said: "The
market for end-to-end Quality Assurance services within the global
travel and tourism industry will continue to grow rapidly as
leading hotel groups and travel operators seek to mitigate against
the risks linked to health, hygiene, safety and security issues
impacting the experience their customers enjoy, their businesses
and brand reputation. This acquisition establishes a strong
presence for Intertek in the global hospitality industry,
complementing our existing end-to-end ATIC services in adjacent
sectors. We welcome CSF to Intertek and look forward to working
together to deliver total peace of mind to companies in this
fast-growing industry."
-ENDS-
*Source: World Travel & Tourism Council, 2018, LINK
CONTACTS
For further information please contact:
Denis Moreau, Investor Relations
Telephone: +44 (0) 20 7396 3400 investor@intertek.com
Jonathon Brill/James Styles, FTI Consulting
Telephone: +44 (0) 20 3727 1000 intertek@fticonsulting.com
About Intertek
Total Quality. Assured.
Intertek is a leading Total Quality Assurance provider to industries worldwide.
Our network of more than 1,000 laboratories and offices and over 44,000
people in more than 100 countries, delivers innovative and bespoke Assurance,
Testing, Inspection and Certification solutions for our customers' operations
and supply chains.
Intertek Total Quality Assurance expertise, delivered consistently, with
precision, pace and passion, enabling our customers to power ahead safely.
intertek.com
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END
ACQEAFAKFDENFAF
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December 17, 2019 02:00 ET (07:00 GMT)
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